Admiral takes Cardiff’s biggest ever pre-let

Published 12th Aug 2010

Stoford is to develop a 220,000 sq ft headquarters for Admiral Group in Cardiff - the biggest ever pre-let deal in Cardiff’s history.

The deal with the insurance group is Cardiff’’s biggest ever pre-let deal and biggest deal for a decade.

The 11-storey building will be located on a half acre site of the former David Street car park, which was demolished as part of the St David’s 2 shopping centre redevelopment by Land Securities.

The building is expected to complete in January 2014 and will be able to hold up to 3,000 employees.

It had also considered a site owned by MEPC, south of its Callaghan Square scheme; a site on JR Smart’s seven acre Capital Quarter scheme and Rightacres Property’s Dumballs Road site.

Buying Brunel House, the 225,000 sq ft, formerly owned by Dawnay Day and now in receivers’ hands was also an option.

The company currently occupies 80,000 sq ft at Aberdeen Asset Management’s Capital Towers..

Tony Nash, Director of Stoford said: “We are proud to have been appointed by Admiral to partner them for such an important development.

”Most importantly it will be ’tailor made’ to support Admiral’s needs and provide a great working environment for its staff.”

Huw Llewellyn, head of facilities for Admiral Group said: “We started the process of looking for a new headquarters two years ago. The final decision was difficult to make because we narrowed it down to two very strong candidates in the Stoford and Rightacres/Rapport proposals. The Stoford development offers not only an excellent building and great location, but also an attractive financial deal.

Source: ' Property Week '

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